3280 Olive Street, Lemon Grove, CA 91945

Local realty services provided by:Better Homes and Gardens Real Estate Napolitano & Associates
3280 Olive Street,Lemon Grove, CA 91945
$15,995,000
Virtual Tour
  • 4 Beds
  • 3 Baths
  • 64,000 sq. ft.
  • Multi-family
  • Pending
Listed by:christina m labowicz
Office:aci apartments
MLS#:250033469
Source:San Diego MLS via CRMLS

Price summary

  • Price:$15,995,000
  • Price per sq. ft.:$249.92

About this home

Introducing the Olive Tree Apartments—a pride-of-ownership, 64-unit multifamily investment offering both immediate income and significant rental upside. Situated on over 2 acres in the heart of Lemon Grove, this well-maintained asset boasts a current GSI of ~$93,000/month with a projected 38% rental upside. The spacious unit mix features 1BR/1BA (677 SF) and 2BR/1.5BA (833 SF) floor plans. Select interiors have already been upgraded, including a 1-bedroom unit that recently leased at $1,950 within days—validating the market potential. A detailed 5-year value-add strategy and rent increase schedule are available upon request. Community amenities include gated entry, off-street parking, laundry room, office, grill and a pool & spa—enhancing tenant retention and lifestyle appeal. With a Walk Score of 90, the property is steps from grocery stores, schools, public transit, and minutes to Downtown San Diego. Large-scale properties with remaining upside are increasingly rare in the San

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Home facts

  • Listing ID #:250033469
  • Added:72 day(s) ago
  • Updated:October 06, 2025 at 07:32 AM

Rooms and interior

  • Bedrooms:4
  • Total bathrooms:3
  • Living area:64,000 sq. ft.

Heating and cooling

  • Cooling:Wall/Window
  • Heating:Wall

Structure and exterior

  • Building area:64,000 sq. ft.

Finances and disclosures

  • Price:$15,995,000
  • Price per sq. ft.:$249.92
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